Get 50% OFF QuickBooks for 3 months*

Buy now
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Work smarter and get more done with advanced tools that save you time. Discover QuickBooks Online Advanced.
sskidrow77-yahoo
Level 1

If I am paying myself from my business account (transferring to myself) would that be a personal or business type and would the category be personal income or paycheck?

 
1 Comment 1
Rea_M
Moderator

If I am paying myself from my business account (transferring to myself) would that be a personal or business type and would the category be personal income or paycheck?

Hello, sskidrow77.

 

Paying yourself from your business account is neither personal nor business type in QuickBooks Self-Employed (QBSE). I'll elaborate on it in detail below.

 

You'll have to use the Personal withdrawal or Owner's withdrawal category and tag it as Transfer as its type when you need to pay yourself from your self-employed business funds. Please see this article to learn more about categorizing transfers in and out of your bank accounts in QBSE: Categorize money transfers in QuickBooks Self-Employed.

 

Additionally, you may want to check out this article to learn more about Schedule C categories and how to categorize transactions in QBSE: Schedule C and expense categories in QuickBooks Self-Employed

 

If there's anything else you need to categorize your self-employed transactions, let me know by dropping a comment below. I'm always ready to help. Take care.

Need QuickBooks guidance?
Log in to access expert advice and community support instantly.

Need to get in touch?

Contact us